Earn useful tokens while you trade on IQOption
The advent of cryptocurrency has also brought about a new wave or means of rewarding people. You can ‘earn’ for using products, services or spending hours online. This known as ‘tokenizing’.
This is not a new concept and has been in use with the gaming world years. In this virtual world, you earned or bought tokens to help unlock new levels.
They allow you get better tools to help you complete a level in your fantasy, first-person shooter or Candy Crush game.
In the Crypto scene, however, your tokens are monetarily valued.
The difference between the token system in gaming vs crypto-trading is that with the former, you pay to get tokens whereas with the latter you earn tokens which have monetary value.
Where to get tokens
Some platforms issue the tokens free to attract new investors (in pump-and-dump schemes) and this is something that the authorities have been even more strict about regulating or banning altogether.
This is because of their misleading value often based on nothing tangibly owned. Some of these companies brazenly and aggressively list ICOs and then disappear within months with investor funds.
Recently a company claiming to offer a cryptocurrency had its operations shut-down completely by police.
Its alleged Ponzi-like scheme offering what they called ‘OneCoins’ needed you to ‘pay in’ to earn these tokens by adding more people to yours and the overall ‘network’.
Sounds pretty familiar doesn’t it?
The ‘so-called’ coins despite being ‘earned’ and punted as being a new form of currency had no intrinsic value whatsoever . Thus, the rest is history with OneCoin.
You can use a more secure, means of earning such tokens. These can, in turn, be traded for Cryptocurrencies as intermediary currencies via a secure trading platform like on IQOption.
Popular Crypto trading exchange called Binance, has its own token called BNB. It is worth about $15 dollars each and currently ranked 8th on the global Crypto ranking.
How it works
It allows you to switch between coins on the platform, use it to offset commission or just trade it for cash.
So, you will be able to use some Bitcoins (BTC) to get Tron (TRX), for example, using your OTN token/s as the interchanger.
This is a more practical use of tokens and they are earned based on your Crypto trading activity and used to offset commission payments.
So, while there are no fees for depositing or withdrawing your funds trading Cryptos on IQOption, you pay a commission on each purchase.
This rate was 10% of each purchase but has recently been slashed to 2,9% – very reasonable when compared to other charges!
The OTN network
The Online Trading Network (OTN) as it is dubbed, is prepped for when the market goes live as a crypto exchange and the OTN tokens will serve as its own unique intermediator token.
And just like trading Forex, using your OTN tokens will be like exchanging South African Rands to US Dollars (intermediary) to get Ghanaian Cedi for example. You would exchange because the rate between the Cedi and Dollar is more favourable.
That way, you save somewhat by converting that way – gaining from ‘spread’ trading.
To understand a bit more about how the OTN Network works and how to earn them on IOption, watch the videos above and start a free trial before diving in.